BMI View: While voice remains the main source of revenue at the moment, operators' strategy of migratingcustomers to higher-value 3G and 4G services will drive data consumption and market growth over the nextfive years. The towers market is another key area of growth, as operators are increasingly offloading assetsto third party tower companies in order to free up the capital needed to invest in spectrum and services.

Latest Updates & Industry Developments

- Approximately 67mn new mobile subscriptions were added in 2015, finally taking the total above 1bn.The focus is on 3G/4G migration and customer numbers will reach 219.9mn in 2016 and 322.2mn by2020.

- The decommissioning of ageing wireless local loop (WLL) networks and older switches within the PSTNare behind the decline in wireline voice service usage. This, plus further delays to the roll-out of theBharatNet broadband network means we have a bearish view of the sector's prospects. There will be39.781mn broadband accesses by end-2016, rising to 49.824mn by 2020.

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